Bill > HR2031

This bill reauthorizes and improves the HOME Investment Partnerships Program, a federal affordable housing initiative, by making several key changes. It authorizes appropriations of increasing amounts from $5 billion in fiscal year 2025 to over $6 billion by fiscal year 2029, and increases program administration resources by raising the administrative funds cap from 10% to 15%. The bill modifies eligibility thresholds for participating jurisdictions, adjusting them for inflation, and establishes a new loan guarantee program to help jurisdictions finance affordable housing development. It introduces more flexibility for small-scale housing (4 units or fewer), reforms homeownership resale restrictions to provide more reasonable return options for property owners, and adds protections for military members and heirs of deceased homeowners. The bill also strengthens enforcement mechanisms, requires more comprehensive property inspections, and makes changes to how community housing development organizations can participate in the program. Additionally, it includes technical corrections to various references and definitions in the existing housing legislation, updating terminology and ensuring more precise language throughout the act.

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https://www.congress.gov/bill/119th-congress/house-bill/2031/all-info